Build Well eyes major share in $3.9 trillion Middle East projects market
ABU DHABI, 1 days ago
Build Well, a construction and building materials company, said it is growing its footprint across the region as well as globally with offices in Saudi Arabia, Qatar and UAE as well as UK and US, in a bid to tap into the $3.9 trillion Middle East construction projects market.
Build Well, which has bases in Lebanon and Kuwait, is a specialist in the supply and installation of fire-rated steel doors, architectural hardware (ironmongery), and various high-quality building materials for the construction industry.
Construction project market continues to grow in the Middle East, driven by the development activities in Saudi Arabia, the UAE, Oman, Qatar and Egypt – that represent the largest construction markets in the Middle East.
As of the first quarter of 2024, the construction project pipeline value in the UAE reached $590 billion or 15% of the regional total, according to a recent report by Jones Lang LaSalle (JLL).
Residential projects are likely to account for $125 billion (21%), while mixed-use projects represent $232 billion (39%). In 2023, the number of awarded projects in the UAE reached $87 billion compared to $31 billion in 2022, demonstrating significant progress in the nation’s economic diversification and investment, it said.
According to the Middle East Economic Digest (MEED), the GCC alone has an astonishing projects pipeline in excess of $2.7 trillion, with Saudi Arabia comprising $1.5 trillion of this total.
Build Well currently has bases in Lebanon and Kuwait, while it expanded its regional footprint with offices in Saudi Arabia, Qatar and the UAE as well as its global offices in the UK and the US.
The company is primarily targeting large business contractors (B2B), particularly those involved in commercial, industrial and residential projects.
"As the construction services business grows due to increased demand driven by infrastructure, housing and real estate sectors, Build Well has also expanded its operation in the GCC with multiple offices to cater to growing needs of high-quality, durable, cost-effective, green and sustainable products in the Middle East region," remarked its CEO Raji Maalouf.
"As a construction-focussed business, we bring the latest environmentally-friendly innovative and sustainable building materials, products and technology that enhances the life cycle of the buildings and reduces carbon footprint," he stated.
Established in 2007, Build Well has become a key supplier of certified fire-rated steel doors and architectural hardware, serving large contractors, architects, business contractors, developers, and government entities involved in major construction projects.
"Our vision is to be the leading supplier of fire-rated steel doors and ironmongery in the Middle East. The company aims to set industry standards for quality, safety, and innovation," said Maalouf, a leading Lebanese entrepreneur.
"Its mission is to play a key role in advancing construction safety and architectural solutions across the region by delivering certified and durable products," he added.-TradeArabia News Service
